MENU

Activist investor questions Toshiba memory deal

Activist investor questions Toshiba memory deal

Business news |
By Peter Clarke



Losses in its nuclear power business forced Toshiba Corp. to try and sell its memory chip business through most of 2017. In September Toshiba finally signed a $18 billion deal with a consortium of acquirers (see Toshiba sells flash memory business to consortium, Apple gets its share). The consortium is led by Bain Capital and includes Apple, Dell, Korea’s SK Hynix and Japan’s Hoya Corporation.

The deal missed a March 31 deadline awaiting Chinese antitrust authority approval.

And under its terms Toshiba is free to renegotiate or cancel the deal if regulatory approval was not granted by March 31.

Now Argyle claims Toshiba Memory, the world’s second largest producer of NAND flash chips, could be worth $40 billion, twice as much as the agreed sale price.

Argyle is thought to hold a less than 1 percent stake in Toshiba and it remains to be seen how much traction its campaign will get. For now Toshiba appears to content to keep the current deal on the table awaiting approval.

Related links and articles:

www.asmhk.com

www.toshiba.com

News articles:

The Deals and No Deals that shaped 2017

Toshiba goes it alone on 3D NAND investment

Toshiba takes 3D-NAND to 96-layers, 4 bits per cell

If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :    eeNews on Google News

Share:

Linked Articles
10s